The EU is proposing that in future when you apply for a BTL mortgage, the rent from existing properties cannot be counted toward your income.
Europe are going to try and regulate BTL mortgages… if they succeed this would start in 2013 and would mean that Lenders would not take the rental income into consideration when you apply for a BTL mortgage – the same as the European model. It would be based on your income alone.
Please look at the website and the link to the e-petition is also below… Please pass this on…
I have just signed the e-petition.
https://submissions.epetitions.direct.gov.uk/petitions/22767
